A new measure of the non-inflationary rate of capacity utilisation for the brazilian economy
| Autor: | Itaiguara de Oliveira Bezerra, Marco Malgarini |
|---|---|
| Jazyk: | portugalština |
| Rok vydání: | 2016 |
| Předmět: | |
| Zdroj: | Economia Aplicada, Vol 20, Iss 4 (2016) |
| Druh dokumentu: | article |
| ISSN: | 1413-8050 1980-5330 |
| DOI: | 10.11606/1413-8050/ea147737 |
| Popis: | The aim of the paper is to derive a non-inflationary rate of capacity utilisation (NIRCU) for the Brazilian economy using firm level data stemming from the IBRE/FGV survey on the manufacturing sector. In doing so, we condition the current capacity utilisation rate at the firm level on expected price changes; moreover, we also condition on the information regarding the number of shifts worked, also provided at the firm level, considered as a possible proxy of the investment gap. The NIRCU is found to perform well as an indicator of inflationary pressures in a standard Phillips-curve framework; results shows that even during the crisis the Brazilian NIRCU lies below the current level of capacity, signalling the persistence of Brazilian inflationary tensions |
| Databáze: | Directory of Open Access Journals |
| Externí odkaz: |
|